Most business owners grossly over estimate the value of their company. This is just one of many reasons companies for sale fail to secure a suitable buyer. Another reason is poor planning. Currently, 80 percent of the owners trying to sell their small to medium sized companies will run into difficulty. Business owners often consider… Read More →

As 2014 comes to a close it is important to reevaluate your business model and consider the steps you need to take in the New Year to increase cash flow and boost your bottom line. Cash flow is crucial to a company’s survival. Having sufficient funds on hand will not only ensure that creditors, employees… Read More →

Unfortunately, fraud is something all businesses must think about and guard themselves from. According to Statistic Brain, seven percent of annual revenues are lost to employee theft or fraud and 33 percent of business’ bankruptcies are caused by employee theft. Fraud isn’t only a result of employee theft; it can also include misuse of accounts,… Read More →

As security breaches and scams become more and more prevalent with the advancement of technology, it is more important for companies to protect against fraud. Extending credit to customers can be a risky venture for a number of reasons, but being smart and taking precautions can help prevent problems down the road. For most companies… Read More →

Streamlining accounting departments can be a daunting task and more often than not the simplest approach is overlooked. However, keeping it simple is generally the best course of action to take when trimming the fat. In many accounting departments the day-in-day-out tasks were created a zillion years ago and have become a part of the… Read More →

We hear stories of employees embezzling money from unsuspecting employers, but we never expect it to actually happen. Nathan J. Mueller, an employee in the reinsurance division of financial services giant ING, carried out a scheme, embezzling nearly $8.5 million over a period of four years. Mueller’s story serves as a lesson to employers, alerting… Read More →

Although the economy is improving, collections remains a daunting task for many companies. Recognizing the challenges and establishing necessary procedures can help to turn the situation around. All business owners want to reduce the number of late paying clients and to build stronger customer relationships. The question is, “How?” Despite all the high-tech solutions available… Read More →

Maximizing profits and growth while also maintaining adequate cash flow is one of the most difficult challenges a young business faces, but it’s also one of the most important. The old adage that “cash is king” has never been truer given today’s challenges for securing a funds or attracting investors. To utilize capital to spur… Read More →

Unfortunately, it is common for customers to pay less than they owe, taking deductions off their bills or underpaying their invoices. For small businesses, this can create a significant loss in revenue and problems with cash flow. Some businesses have reported losing as much as 10 percent of their gross sales to deductions. Fortunately, companies… Read More →

Understandably, most companies are focused on their incoming cash flow and the bottom line. As a result, accounts receivable departments, or incoming balances, tend to get all the attention. Consider what companies might discover if they took a closer look at accounts payable. The management of accounts payable should also be considered a priority. When… Read More →

In today’s world, where companies are evaluating every aspect of business to try to cut costs, few are looking at their accounting departments for ways to save money. The billing process is a basic and necessary function of accounting, and as a result, its potential impact on a company’s bottom line is often overlooked or… Read More →

Every purchase order or invoice should have them, but what are they? Terms and conditions. The fine print found at the bottom or on the backside of in invoice or purchase order, so it is often ignored. Look for it, read it, understand it. When a company purchases goods or services, it is not uncommon… Read More →

According to a 2013 Bill.com survey, 66 percent of finance executives use mobile applications to approve bills and collect payments on some level. Accounting professionals have been chained to their desktops for decades, but the increasing popularity of the cloud has allowed businesses to access critical information any time they have access to Wi-Fi. The… Read More →

While small business owners appear to have a good grip on managing their companies, they are often unsure about what to do to properly prepare for loan approval.. According to the Small Business Association Lending Index report, big banks approved 15.1 percent of small business loans in February 2012. While we are seeing a slight… Read More →

Reading the latest business news, you might be surprised to find articles highlighting large corporations with increasing sales and decreasing income. This prompts the question, how is it possible for a company to sell more but make less? Business managers often assume if the company can increase its sales, it will have an increase in… Read More →